Best SIP Plans to Invest in India

Investing in market-linked assets can be done in two ways: through the lump sum or single payment method or through the SIP investment method. A SIP's full form is Systematic Investment Plan (SIP), and these are the best investment plans for an investor to build a huge corpus through disciplined investing in market-linked funds. The best SIP Plans in India are offered by fund houses through Mutual Funds, insurance companies through ULIP Plans, and other financial institutions.

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Systematic Investment Plan (SIP)
CATEGORY SIP By insurance Companies SIP By Fund Houses
RETURNS (Past 10 Years) 13.66%+ 14.48%+
Under 80C
On all plans
Only on ELSS
Under 10(10D)*

Best SIP Plans in India in 2023

The SIP investments provided by the fund management institutions have given very high returns in the long term to disciplined investors even during volatile market scenarios.

  • Insurance Companies
  • Mutual Funds

There is a wide range of systematic investment plan options available in ULIPs today. Let us take a look at the list of best SIP plans to invest in 2023 in India:

Fund Name 3 Years 5 Years 10 Years
Top 200 Fund Tata AIA 28.32% 24.81%
View Plan
Virtue II PNB Metlife 23.25% 19.25%
View Plan
Pure Equity Birla Sun Life 20.23% 15.93%
View Plan
Growth Opportunities Plus Fund Bharti AXA 19.08% 16.31%
View Plan
Growth Fund LIC 10.74% -
View Plan
Pure Stock Fund Bajaj Allianz 17.73% 14.52%
View Plan
Blue Chip Fund HDFC Standard 14.99% 13.28%
View Plan
Growth Super Fund Max Life 15.25% 13.34%
View Plan
Multi Cap Growth Fund ICICI Prudential 16.69% 11.58%
View Plan
Equity Fund SBI 14.78% 12.92%
View Plan

Updated as on October 2023

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Top SIP ULIP Plans in Detail

Here are some of the sorted best SIP plans for 5 years of annualised returns. One can invest in these highest-return SIPs for the long term and earn significant gains at the end of their tenure:

  1. Tata AIA Life – InvestAssure Superstar- Super Select Equity Fund 

    This is a Flexicap ULIP fund in which most of the investment is made under equity and equity-related instruments. Tata AIA Life's Super Select is a Flexi Equity Fund among the best SIP investment plans in the market. 

    It diversifies its portfolio among various large-cap, mid-cap, as well as small-cap stocks. This fund is offering an average return of 15.53% in 10 years. 

    Along with portfolio diversification, the fund managers under this fund focus on generating decent returns for their investors. 

  2. Aditya Birla Sun Life – Individual Pure Equity Fund

    A joint venture of Sun Life Financial Incorporation and Aditya Birla Group, Aditya Birla Sun Life –Individual Pure Equity Fund is one of the best SIP plans in India. This SIP investment fund holds total assets of Rs. 13.62 billion until date with 10-year returns of over 15.23%. 

    The Individual Pure Equity Flexicap fund focuses on growing the invested wealth of the investors exponentially.

  3. Bajaj Allianz Pure Stock Fund

    Bajaj Allianz offers this open-ended Flexicap Fund with its diverse equity portfolio of investing in small-cap, mid-cap, and large-cap funds. This pure stock fund holds a Net Asset Value of (Rs. 97.97 per share) and a total assets value of Rs. 44.03 billion. 

    It is considered one of the best SIP plans as it invests most of the money in equity stock funds and offers a 10-year return of 14.93% annually. The date of incorporation of the fund scheme is July 21, 2006. The fund involves high risk-taking by the investor.

  4. Tata AIA Life- Whole Life Aggressive Growth Fund

    Tata AIA Life's Aggressive Growth Fund was incorporated on January 08, 2007, with a total assets value of Rs. 6.07 billion. This is one of the best SIP investment plans in the aggressive fund allocation category. This fund puts large money allocations in multiple assets like equity, precious-metal ETFs, and more. 

    The SIP plan puts larger funds of 61% .in bond holdings and offers 10-year returns of 13.67. The risk involved is relatively higher in this fund scheme. 

  5. Future Generali India Life- Future Apex Fund

    Future Generali Life's Future Apex Fund is an open-ended fund that invests in large-cap insurance stocks in India. The large blending investment style management of this fund invests 89% portion of its funds in equity holdings.

    This fund holds a Net Asset Value of Rs. 37.93 per share and a 10-year return of 12.78%. The highlight is 18% of Women Directors and 7% of Women Executives managing this fund.

Here is a list of the top mutual funds for SIPs to invest in 2023:

Fund Name 3 Years 5 Years 10 Years
Large Cap Fund Nippon India 29.45% 15.33%
Bluechip Fund SBI 22.34% 14.79%
Cap Fund Edelweiss Large 20.14% 14.01%
Frontline Equity Fund Aditya Birla Sun Life 21.57% 13.35%
Bluechip Fund ICICI Prudential 24.00% 14.36%
Large Cap Fund Mirae Asset 18.65% 13.49%
Bluechip Equity Fund Canara Robeco 18.57% 15.24%
Bluechip Growth Kotak 19.78% 14.55%
Large Cap Fund Baroda BNP Paribas 19.37% 15.09%

Updated as on October 2023

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Best Mutual Funds for SIP in Detail

  1. Quant Tax Plan- Direct-Growth Fund

    This is currently the best SIP plan with the highest 5-year returns and excellent performance quality. This Equity Linked Savings Scheme (ELSS) fund aims to achieve long-term capital appreciation by investing in financial, energy, precious metals, and consumer staples. 

    Since its inception on January 01, 2013, the scheme offered by Quant Mutual Fund house has consistently given high returns and kept the losses at their lowest during the falling market. The fund holds Assets Under Management (AUM) of Rs 2692 crores and an expense ratio of 0.57%.

  2. Quant Active Fund Direct-Growth

    This open-ended equity fund aims to generate long-term capital appreciation. This fund makes investments in equity securities, mainly in the chemicals and material sectors. 

    It has doubled the invested amounts every 3 years as an equity-oriented, high-risk fund option. The fund was incepted on January 01, 2013, and currently, the Assets Under Management (AUM) are of Rs. 3556 crores, with an expense ratio of 0.58%.

  3. PGIM India Midcap Opportunities Fund

    Launched on November 11, 2013, PGIM India Mutual Fund house's Midcap Opportunities Fund is a high-risk-taking mutual fund. The primary objective of the scheme is to seek long-term capital growth. 

    The Assets Under Management (AUM) under this scheme is of Rs. 7558 crores and has a 0.44% expense ratio, which is far lower than other midcap funds charges. The money is invested in equity and mostly in Consumer Discretionary and material sectors. The fund has proven records of doubling the invested money every 3 years. 

  4. Parag Parikh Flexi Cap Fund

    PPFAS Mutual Fund came up with a Flexi-cap equity scheme on May 13, 2013. Currently, the Assets Under Management are of Rs. 28248 crores and an expense ratio of 0.76%, which is slightly more than Quant Fund.

     Doubling its investor's money every 3 years, the fund focuses on generating long-term capital growth. Primary investments are predominantly made in Technology, Consumer staples, and Automobiles sectors.

  5. ICICI Prudential Gilt Fund Direct-Growth Plan

    The ICICI Prudential Gilt Fund scheme was launched on January 01, 2013, and holds Rs. 2639 crores worth of AUM until December 31, 2022. This medium risk-taking fund has a minimum investment limit of Rs. 1,000. 

    The predominant objective of the fund is to provide capital appreciation while lending to borrowers with an excellent score and decreasing the default risk. The scheme has given doubled the invested money every 9 years.

  6. Edelweiss Equity Savings Fund Direct-Growth Plan

    Launched on September 22, 2014, Edelweiss Equity Savings mutual fund has an AUM of Rs 259 crores today. The scheme's primary objective is to seek long-term capital growth by currently investing around 36.22% in equity and 34.34% in debt-related securities. 

    The scheme does not guarantee any returns but has doubled its investors every 9 years. This fund invests majorly in the financial, energy, materials, and technology sectors. The downside is its low credit risk quality borrowers.

  7. SBI Magnum Medium Duration Fund

    As a medium duration, this fund lends majorly to moderate credit risk and profile borrowers. The scheme's main objective is to provide long-term capital appreciation and has given average returns of 9.10%.

    Launched on January 01, 2013, and holds an AUM of Rs. 7146 crores with an expense ratio of 0.68%. Lending to better borrowers makes it a less defaulting fund.

  8. ICICI Prudential Short-Term Fund Direct-Growth Plan

    This is a short-duration mutual fund scheme offered by ICICI Prudential Mutual Fund house. Launched on January 01, 2013, the fund focuses on generating long-term capital growth. The fund holds an AUM of Rs. 14590 crores and an expense ratio of 0.39%, which is low like other short-duration funds. 

    The money is invested in debt instruments, making it diversified among quality borrowers and lowering the default risks. As a result, the fund has been doubling the money of its investors every 9 years.

  9. Quant Absolute Fund-Direct Growth Plan

    Quant Mutual Fund house offers this aggressive hybrid fund scheme to its investors to generate long-term capital growth, with its inception on January 01, 2013. The fund comes with an expense ratio of 0.56% and an AUM of Rs. 994 crores.

     Primary investments are predominantly made into equity (76.92%) and debt-related instruments (13.34%) of companies in the energy, consumer staples, metal mining, and services sectors. However, the borrower's quality lends to be of risky quality. So, invest in this fund with caution.

  10. Kotak Debt Hybrid Fund Direct-Growth Plan

    This is a conservative hybrid fund offered by Kotak Mahindra Mutual Fund. The fund was launched on January 01, 2013, and currently holds an AUM of Rs. 1651 crores. The fund invests around 24.55% in equity assets and almost 69.52% in debt securities. 

    This fund is the best fit for investors who have a medium to low-risk appetite. The mutual fund scheme has doubled its investors' money every 7 years by lending and investing mostly in energy, automobile, and services sectors. The borrowers it lends to are also of moderate credit risk quality, making it a better fund.

SIP plans available in

Returns upto 19%
Returns upto 18%
10 YEARS SIP Plans
Returns upto 16%
12 YEARS SIP Plans
Returns upto 14%
15 YEARS SIP Plans
Returns upto 15%
20 YEARS SIP Plans
Returns upto 15%

When to ULIP vs. When to Mutual Fund - ULIP vs. Mutual Fund

Investors are always confused about how to choose between ULIP and MF-based systematic investment, as both these SIP investment options offer different benefits. 

Below are some points of consideration gathered based on the research done by our financial experts. The following points will help investors decide the best SIP investment plan to meet their financial goals:

  • The process of SIP investments allows the investors to manage their personal finance and create a financial cushion so that they can achieve the financial objectives of life. 

  • The contribution towards the best SIP plan helps investors manage their investments regularly in a simple and hassle-free way. 

  • Even though returns on SIP mutual funds entirely depend on the market performance, mentioned above is the list of top-performing best SIP plans for the year 2023, wherein you can consider investing.

When to ULIP?
Looking for medium to long-
term investment
Want to grow wealth while
securing family future
Have a low to medium
risk appetite
You want to save on
your taxes
Want less stress during market
When to Mutual Funds
A short-term or a
medium-term investment horizon
Want to only grow wealth

Have a high or medium
risk appetite
Want high liquidity with no tax
Have knowledge & expertise to
manage market volatility
View Plans
See Full ULIP VS MF Comparison

Why Invest in a SIP in 2023?

One of the most common reasons why people are attracted to investing in SIP is the inculcation of regular habits of savings in small and regular intervals.

Investment of small amounts

As stated above, small and regular deposits can be made in SIPs. An investment amount as low as Rs. 500 or even Rs. 100 in some cases can be made while purchasing a SIP. The amount of investment under SIP has no barrier making it easy and approachable to the masses.

Rupee cost averaging

As we know that the equity market is volatile in nature so, when it comes to investment in SIP, it helps the investor to purchase more when the prices are low and less when the market is booming. SIPs are beneficial for investors who invest in more shares at less price rather than investors who invest a large sum in just one share

Option to run multiple SIPs

There is a scope of investing in more shares rather than putting all your bets on 1 or 2 shares in SIP. Choice of shares and investments, if made wisely, can be very beneficial for investors investing in SIPs.


With an option to start and stop a SIP whenever the investor wishes to, SIP offers great flexibility even if the invested amount is low.

Maximum Returns with Minimum Investment

To attain maximum benefits while investing in the best SIP plans, all you have to do is follow these simple steps:

  • Determine your future needs

  • Make a list and the amount of savings needed to achieve your goals.

  • Have a piece of in-depth knowledge about the SIP you are planning to invest in.

  • Complete all your documentation and KYC for non-interrupted investments and hassle-free results.

  • Choose the SIP that suits your future goals the best. SIP calculator online tool can be used to get an idea of returns.

  • Invest small amounts in multiple shares rather than focusing on just 1 for the best results.

Important Points to Remember Before Investing in Best Mutual Funds for SIP 2023

  1. Start Investing Early in SIPs

    In the long term, one must start investing early to earn more benefits from the best SIP plans. The longer the tenure of investing, the higher the returns.

  2. Understand Your Financial Needs

    SIP investments can be made for as small as Rs.500 as per the scheme offered. So, learn your financial needs in the future and decide on paying a lump sum or SIPs. This eases the burden on your pocket. 

  3. Invest in Different SIPs for Particular Goals

    Depending on your future obligations and goals, one should join separate SIP investment plans. Investment in different securities profiles offers different returns for the same tenure with different risks.

  4. Make Investments as per Your Risk Appetite

    Your risk-taking appetite is unique and depends on your age, investable income, financial obligations, and personality. Depending on your investment horizon, you must choose the risk portfolio for the best SIP plans you invest in.

  5. Keep Evaluating Your Portfolio's Performance Regularly

    A good investor serious about earning a corpus will evaluate the portfolios of their SIP investments. This will ensure that underperforming companies are not part of your portfolio and improve the returns significantly,

Summing It Up!

SIPs offer you the best investment plans for building a large corpus by making little-by-little investments over a long period of time. These plans can be bought and invested in anywhere and by anyone. Disciplined investing, diversification of risk portfolios, and rupee cost-averaging benefits are the best features of the SIP investment plans. Choose the best SIP plans discussed in this article and make your choices intelligently.

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Frequently Asked Questions

  • Which is the best SIP to invest for next 5 years?

    The best SIP plans for the next 5 years are mentioned in the list below:
    • Quant Active fund: 25.7% p.a. 5-year returns
    • Quant Large & Mid Cap Fund: 20.24% p.a. 5-year returns
    • Parag Parikh Flexi Fund: 19.43% p.a. 5-year returns
    • PGIM India Flexi Cap Fund: 19.12 % p.a. 5-year returns
    • Kotak Equity Opportunities Fund: 17.59% p.a. 5-year returns
  • Which is the safest SIP to invest?

    The safest SIP investment plans are those that invest in Blue chip or large-cap funds. The list below mentions the safest SIP plans an individual can invest in:
    • ICICI Prudential Blue-chip Fund
    • Reliance Large cap Fund
    • Mirage Asset Tax Saver Fund
    • Motilal Oswal Long-Term Equity Fund
    • Canara Robeco Equity Hybrid Fund
  • Can I withdraw SIP anytime?

    Yes, one can withdraw from SIP investments anytime if the returns are not up to your expectations or if one is not able to fulfil your financial goals.
  • Is SIP tax-free?

    SIP investments made in ELSS schemes are eligible for tax exemptions of up to Rs. 1.5 lakhs u/Section 80C of the IT Act, 1961. The SIP returns earned from investments made for more than 1 year are considered as Long Term Capitals Gain (LTCG), taxable per the government rules.
  • Does SIP Investment offer tax benefits in 2023?

    Not all SIP plans offer tax benefits. The investment made through SIP in an equity-linked savings scheme is applicable for tax exemption under section 80C of the Income Tax Act.
  • What are the maximum and minimum amounts that can be invested in SIP in 2023?

    The investors can start making an investment through SIP with a minimum amount of Rs.500. However, there is no upper limit on the maximum investment in SIP.
  • How can I start SIP Investment in 2023?

    The investors can choose the offline or the online method to start making the SIP investment.
    For the online method:
    • Visit the official website of the asset management company (AMC).
    • Fill in all the details for online SIP.
    • Along with the details of KYC, the investors will require to submit a scanned copy of address proof, cheque, account number, and ID proof.
    For offline method
    • Visit the branch office of the asset management company (AMC).
    • Fill out the auto-debit form and application form thoroughly.
    • Submit all the important documents such as address proof and ID proof along with the properly signed cheque to the address of the mutual fund.
  • Which one is the best SIP plan in 2023?

    There are many top-performing SIPs available in the financial market. A few of the top SIPs are as follows:
    Insurer Name Best performing Fund Name 10-year return
    Tata AIA Life Insurance Company Ltd Whole Life Mid Cap Equity Fund 19.58%
    Tata AIA Life Insurance Company Ltd Top 200 Fund 17.87%
    Birla Sun Life Insurance Company Ltd Multiplier 16.67%
    Bharti AXA Growth Opportunities Plus Fund 16.53%
    IDBI Midcap Fund 16.38%
  • Which is the best SIP to invest in 2023 for the highest return?

    From Large Cap to ELSS (Equity Linked Savings Schemes), there are various categories under which an investor can invest in funds through the SIP method. Here are some top SIPs with the highest returns one can invest in:
    Funds 1 Year Return 3 Year Return 5 Year Return Minimum SIP Investment
    • Large Cap Schemes

    Aditya Birla Sun Life India GenNext Direct Fund Growth 5.70% 19.30% 15.30% Rs. 1,000
    Aditya Birla Sun Life Focused Equity Fund Direct-Growth -0.30% 15.90% 11.20% Rs. 1,000
    ICICI Prudential Multi-Asset Fund Growth 12.10% 19.90% 12.90% -
    • Mid Cap Schemes

    Aditya Birla Sun Life Mid Cap Direct Fund Growth 0.00% 21.40% 9.10% Rs. 1,000
    Canara Robeco Emerging Equities Fund Direct-Growth 1.90% 22.40% 13.90% Rs. 1,000
    Edelweiss Mid Cap Direct Plan-Growth 6.90% 28.90% 16.30% Rs. 500
    • Multi Cap Schemes

    Aditya Birla Sun Life Equity Advantage Fund Direct-Growth -9.60% 15.30% 8.30% Rs. 1,000
    Franklin India Focused Equity Fund Growth 4.10% 20.10% 12.20% -
    HDFC Capital Builder Value Fund Growth 2.40% 17.10% 9.60% -
    • Equity Linked Savings Scheme (ELSS)

    Aditya Birla Sun Life Tax Plan Direct-Growth -3.00% 9.10% 6.50% -
    Invesco India Tax Plan Direct-Growth -5.20% 15.90% 12.40% Rs. 500
    L&T Tax Advantage Fund Growth 1.50% 14.30% 8.00% -
  • Which is the best SIP to invest in 2023 for 1000 per month?

    An investor needs to choose funds wisely for investment to earn better returns in the future. Some of the best SIPs to invest with a minimum amount of Rs. 1,000 are as follows:
    Funds 1 Year Return 3 Year Return 5 Year Return Risk Involved
    ICICI Prudential Technology Direct Plan-Growth -15.40% 33.40% 27.10% Very High Risk
    Aditya Birla Sun Life Digital India Fund Direct-Growth -12.70% 30.90% 25.70% Very High Risk
    Nippon India Small Cap Fund Direct-Growth 13.90% 35.70% 17.80% Very High Risk
    ICICI Prudential All Seasons Bond Fund Direct Plan-Growth 4.50% 7.80% 7.80% Moderate Risk
    ICICI Prudential Equity & Debt Fund Direct-Growth 10.20% 21.40% 14.40% Very High Risk
  • Is SIP better than FD?

    SIP is one of the methods of investment in funds wherein the investor can deposit small amounts at regular intervals and receive decent returns. On the other hand, Fixed Deposits are an investment option where a certain amount is deposited for a fixed tenure, and the interest is received after maturity.
    Generally, the rate of interest received from SIP investments is higher than FD interest rates, but so is the risk involved. An investor willing to take a higher risk in return for better profits should opt for SIP, whereas for investors with zero risk-taking ability, FD is the right investment option.
  • Is SIP a risk?

    It is important to know that SIP is one of the methods of investment in funds and not an underlying investment option. The investment option chosen to invest in, the risk involved, and other factors related to the investment option define the risk involved in the SIP investment.

+Large cap category average past 10 years performance as on date June 2023, as per Morning star.
* If premium payable is below Rs. 2.5 lakh in any year . Standard T&C Apply
~Source - Google Review Rating available on:-

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